Role of a Condominium Manager
Condominium corporations may hire a licensed condominium management provider for a variety of services. Condominium Management Services is defined under the Condominium Management Services Act, 2015, as:
- Collecting or holding contributions to the common expenses or other amounts levied by, or payable to, the corporation.
- Exercising delegated powers and duties of the corporation or its board of directors, including,
- Making payments to third parties on behalf of the corporation;
- Negotiating or entering into contracts on behalf of the corporation; or
- Supervising employees or contractors hired or engaged by the corporation.
Some common examples of a condominium manager's responsibilities may include:
- Collecting common expense fees
- Keeping records for the condominium corporation
- Responding to owner complaints
- Ensuring maintenance and repair of the property
- Hiring and monitoring service companies, and overseeing staff and contractors
- Preparing draft annual budgets and overseeing the reserve fund
- Implementing an emergency management plan and responding to emergencies
- Preparing status certificates
- Issuing meeting notices and reporting on the affairs of the corporation
- Organizing board meetings and overseeing administration of all owners' meetings
- Monitoring the corporation’s insurance
- Preparing financial reports and arranging for audits
- Advising the board of directors on compliance with the Condominium Act, 1998
- Advising the board on its financial responsibilities (e.g., contributions to the reserve fund, long-term reserve fund planning)
For more information about condominium management services, please refer to our guide, Do I Need a Licence? Interpreting the Definition of Providing Condominium Management Services. The guide offers a more detailed list of examples and differentiates between management and administrative activities. Learn about how to become a condominium manager in an exciting sector that is continuously growing and evolving.